Mar 26, 2025

Advancing Climate Risk Management: Insights from the CEF Webinar Series

Ms. Nora Manova Trajkovska from the National Bank of the Republic of North Macedonia recently participated in a series of webinars on climate risk management, funded by the Ministry of the Environment, Climate and Energy and the Climate Change Fund of Slovenia. These sessions provided a comprehensive understanding of climate risk fundamentals and their importance for public organizations and governance. Participants also covered key strategies to enhance resilience to climate-related challenges through both policy and operational approaches, offered detailed insights into the European Climate Risk Assessment (EUCRA) framework, and explored case studies of effective regional practices. Below, we are pleased to share Ms. Trajkovska's reflections on this valuable learning experience.

"The National Bank of the Republic of North Macedonia is committed to integrating sustainability into all aspects of its operations and policymaking. Therefore, it is in the process of adopting a Sustainability Policy to build capacity and enhance climate risk awareness among employees. During this transition period, it is essential to strengthen knowledge on operational efficiency initiatives, key performance indicators (KPIs), and sustainability goals, with a strong emphasis on transparency. Additionally, there is a focus on expanding expertise in greenhouse gas (GHG) emissions calculation standards and methodologies, decarbonization strategies, and goal-setting techniques.

As a project coordinator for Sustainability Enhancement and Capacity Building at the National Bank of the Republic of North Macedonia, attending the Climate Risk Management CEF Webinar in January 2025 was an enriching experience that deepened my understanding of climate risk assessment and resilience-building strategies. My motivation to participate stemmed from a professional need to stay updated on emerging frameworks and methodologies for managing climate risks, particularly within the European context. The webinar exceeded my expectations by offering a well-structured, insightful, and practical approach to climate risk management.

One of the most valuable aspects of the sessions was the in-depth exploration of the European Climate Risk Assessment (EUCRA) framework. Learning about the methodologies used to assess climate risks at different scales, as well as their regional applications, provided me with a comprehensive understanding of how climate risks are evaluated and mitigated. This knowledge is particularly relevant to my work, as it enables me to integrate best practices and robust assessment tools into ongoing projects focused on climate resilience.

The webinar provided practical insights that I intend to apply directly in my professional role. By leveraging the risk assessment methodologies discussed, I can contribute to more effective adaptation planning and policy development within my central bank. Additionally, the case studies presented during the sessions offered practical examples of successful implementation, which will serve as a reference for future initiatives.

Beyond knowledge acquisition, the webinar facilitated valuable networking opportunities with experts from the European Environment Agency (EEA) and other institutions. Engaging with EEA representatives helped establish a foundation for potential collaborations, knowledge sharing, and access to critical data sources that will enhance the effectiveness of our climate resilience efforts. Strengthening these connections adds significant value to institutional capacities and fosters greater alignment with European climate policies. For instance, becoming familiar with the European Climate Adaptation Platform (Climate-ADAPT), which supports adaptation in Western Balkan countries by sharing knowledge for a climate-resilient Europe, enables the National Bank of the Republic of North Macedonia to contribute as a content provider for this platform.

I highly recommend this webinar to colleagues involved in climate risk management, adaptation planning, or policy development. The structured and interactive format, combined with expert insights and practical applications, makes it an invaluable resource for professionals seeking to enhance their understanding and implementation of climate resilience strategies. The knowledge and connections gained through these sessions will undoubtedly contribute to more effective climate action across various sectors."